In an announcement on Tuesday, cryptocurrency exchange Crypto.com will be launching a nonfungible token, or NFT, platform on Friday, featuring content from major artists, athletes and musicians.
Anyone — not just Crypto.com users — will be able to buy, trade and resell NFTs featuring work from Snoop Dogg, Boy George, Klarens Malluta and Lionel Richie, Mr. Brainwash, Opus, BossLogic, Axel Mansoor, KCamp, Kloud, the Aston Martin Cognizant Formula One Team and others.
Joe Conyers III, former chief strategy officer of Downtown Music Holdings in New York, will be leading this new Crypto.com venture. Crypto.com co-founder and CEO Kris Marszalek has stated that he aims to increase the number of users on the platform from its current 10 million to more than 100 million by 2023.
“From live-streaming to AR/VR and drop-in audio, I’ve always loved exploring how new technologies can change the way that my music is experienced,” said Mansoor, a singer-songwriter and current face of the Clubhouse app. “Technology is at its best when it’s helping us connect to each other in innovative ways, and NFTs are a super exciting way to forge deeper bonds with my supporters.”
The introduction of celebrities and major non-tech figures into the crypto space isn’t always a bullish indicator. Though rapper Snoop Dogg and Kiss’ Gene Simmons may have helped the price of DOGE surge to an all-time high last month, the price of Bitcoin didn’t seem to budge when actress Lindsay Lohan tweeted the crypto asset was going “to the moon.”